Digi Incub8 to start up aspiring East Malaysian tech entrepreneurs
KUALA LUMPUR, 31 May 2016 - Digi Telecommunications Sdn Bhd ("Digi") today kicks off Digi Incub8, the company's first incubator programme; reinforcing its commitment to develop and support Malaysia's vibrant startup ecosystem. Digi Incub8 focuses on nurturing ideas and young startup businesses in the East Malaysian region, providing an easily accessible platform for budding entrepreneurs to start up.
Praveen Rajan, Digi's newly appointed Chief Digital Officer said, "There is a vast untapped entrepreneurial potential in Sabah and Sarawak. With the local startup scene very much converged in the peninsular, Digi Incub8 seeks to provide equal opportunities for East Malaysians to venture into the startup fray. Every entrepreneur needs a little help at startup, and incubators like ours will help nurture early-stage startups until they are big enough to leave the nest and make it on their own. It also means we are able to build a richer, more inclusive startup ecosystem in Malaysia with ideas and talent emerging from all across the country".
"Startups have been the impetus for disruption in every industry imaginable including the telco sphere. They are a big influence on Malaysia's digital makeover and how our customers will use the internet in the future. As we become more of a digital company, it is apt that we continue working with startups to drive the digital evolution, creating products and solutions that will complement or revamp our customers' digital lifestyles," said Praveen.
Sigve Brekke, Telenor's President and Chief Executive Officer said, "Malaysia has a strong, emerging startup ecosystem that shows great potential in becoming a digital innovation hub in the region. I believe that big companies like Telenor combined with startups equate accelerated innovation, which is why we are engaging with entrepreneurs and startups across Asia. Malaysia has already seen the emergence of its first unicorn, and as the number of startups continues to explode I hope to see more unicorns arise in the near future."
Digi Incub8 is made available to tech entrepreneurial talent in East Malaysia in two phases. The first is an idea incubator where individuals undergo a three-day workshop to learn the basics of ideating and creating business-worthy ideas. The workshop is designed for individuals interested in starting a business but yet to formulate a business idea, or entrepreneur wannabes who want to verify that their idea has what it takes to fly.
The second phase is a startup incubator where aspiring entrepreneur teams will undergo a six-day bootcamp to validate their ideas, learn product development, business basics and go-to-market strategies. The bootcamp culminates in a demo day where up to three winning teams are awarded up to RM25,000 funding to start up their businesses. The bootcamp is intended for idea stage startups or new entrepreneurs looking to start a business but unsure how to take it forward.
Digi Incub8 is a partnership with 1337 Ventures and its Alpha Startups programme, a household name within the community for scaling companies from ideas into successful business ventures.
Digi Incub8 is the latest addition to Digi's portfolio of startup engagement initiatives, alongside Digi Accelerate and Digi Challenge for Change. These programmes are designed to complement and support the development of Malaysia's robust startup ecosystem, and enable more Malaysians to participate in the digital economy and shape the next digital innovations for the country.
Digi Incub8 will be hosted in Kota Kinabalu, Sabah, and opens for registration today at www.digi.com.my/incub8.